Nuveen LLC acquired a new position in ProAssurance Corporation (NYSE:PRA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 149,903 shares of the insurance provider's stock, valued at approximately $3,500,000. Nuveen LLC owned 0.29% of ProAssurance as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in PRA. Wells Fargo & Company MN lifted its stake in shares of ProAssurance by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 40,164 shares of the insurance provider's stock valued at $639,000 after buying an additional 6,583 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of ProAssurance in the fourth quarter valued at about $228,000. Barclays PLC lifted its stake in shares of ProAssurance by 6.8% in the fourth quarter. Barclays PLC now owns 90,894 shares of the insurance provider's stock valued at $1,447,000 after buying an additional 5,777 shares during the period. Mariner LLC lifted its stake in shares of ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock valued at $271,000 after buying an additional 688 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of ProAssurance by 21.0% in the fourth quarter. Marshall Wace LLP now owns 29,091 shares of the insurance provider's stock valued at $463,000 after buying an additional 5,040 shares during the period. 85.58% of the stock is currently owned by institutional investors.
ProAssurance Price Performance
PRA stock traded up $0.04 during trading on Friday, hitting $23.82. 375,133 shares of the stock traded hands, compared to its average volume of 503,686. ProAssurance Corporation has a one year low of $12.43 and a one year high of $24.14. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 25.34 and a beta of 0.13. The company has a 50 day simple moving average of $23.68 and a 200 day simple moving average of $21.94. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33.
ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.33. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The firm had revenue of $271.94 million for the quarter, compared to analyst estimates of $266.72 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company's revenue was down 19.9% on a year-over-year basis. Equities analysts expect that ProAssurance Corporation will post 0.8 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on PRA shares. Piper Sandler increased their target price on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Zacks Research raised shares of ProAssurance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen initiated coverage on shares of ProAssurance in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $21.50.
Check Out Our Latest Stock Report on ProAssurance
About ProAssurance
(
Free Report)
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.
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